Groep VADE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Groep VADE
NACE 47.221, Retail sale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€106,267
2024 · €93,721+€12,547
Equity
€256,996
2024 · €170,729+€86,267
Cash
€33,421
2024 · €39,478-€6,056
Balance sheet total
€1.3m
2024 · €932,190+€371,442
Largest movements
Assets
- Receivables within one year +€299,837
up €299,837 (+1,187%), from €25,261 to €325,098
of which Other amounts receivable: +€297,031
- Tangible fixed assets +€74,432
up €74,432 (+9.2%), from €809,558 to €883,990
of which Land and buildings: +€73,658
Equity and liabilities
- Debts after one year +€333,386
up €333,386 (+83.6%), from €398,806 to €732,192
- Reserves +€86,267
up €86,267 (+51.0%), from €169,229 to €255,496
- Short-term financial debts -€31,898
down €31,898 (-27.3%), from €117,000 to €85,102
Income statement
- Depreciation -€36,953
down €36,953 (-28.1%), from €131,456 to €94,503
- Staff costs +€21,971
up €21,971 (+12.5%), from €176,085 to €198,055
- Gross operating margin +€7,833
up €7,833 (+1.7%), from €448,269 to €456,102
- Financial charges +€5,590
up €5,590 (+39.1%), from €14,314 to €19,905
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€93,721
Gross operating margin
+€7,833
Staff costs
-€21,971
Depreciation
+€36,953
Other operating charges
-€1,403
Financial income
+€489
Financial charges
-€5,590
Taxes
-€3,763
Result 2025
€106,267
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€129,661
Investment
-€167,786
Financing
+€291,390
Cash 2024
€39,478
From operations (derived)
-€129,661
Net result for the year
+€106,267
Depreciation
+€94,503
Receivables after one year
-€4,575
Stocks and contracts
-€3,890
Receivables within one year
-€299,837
Deferred charges and accrued income
+€4,086
Trade debts
-€12,477
Tax, wage and social debts
-€12,193
Other debts
-€1,718
Accrued charges and deferred income
+€173
Investment (derived)
-€167,786
Investment in fixed assets (net)
-€167,786
Financing
+€291,390
Debts after one year
+€333,386
Current portion of long-term debt
+€9,902
Short-term financial debts
-€31,898
Contributions, distributions and other
-€20,000
Cash 2025
€33,421
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €932,190 | €1,303,632 | +€371,442 | +39.8% |
| Fixed assets | 21/28 | €820,546 | €893,829 | +€73,283 | +8.9% |
| Intangible fixed assets | 21 | €10,305 | €9,055 | -€1,250 | -12.1% |
| Tangible fixed assets | 22/27 | €809,558 | €883,990 | +€74,432 | +9.2% |
| Land and buildings | 22 | €612,457 | €686,114 | +€73,658 | +12.0% |
| Plant, machinery and equipment | 23 | €119,717 | €105,005 | -€14,712 | -12.3% |
| Furniture and vehicles | 24 | €67,665 | €48,814 | -€18,851 | -27.9% |
| Other tangible fixed assets | 26 | €9,720 | €44,057 | +€34,337 | +353% |
| Financial fixed assets | 28 | €682 | €784 | +€102 | +14.9% |
| Current assets | 29/58 | €111,644 | €409,804 | +€298,159 | +267% |
| Amounts receivable after more than one year | 29 | €5,641 | €10,216 | +€4,575 | +81.1% |
| Other amounts receivable | 291 | €5,641 | €10,216 | +€4,575 | +81.1% |
| Stocks and contracts in progress | 3 | €33,144 | €37,034 | +€3,890 | +11.7% |
| Stocks | 30/36 | €33,144 | €37,034 | +€3,890 | +11.7% |
| Amounts receivable within one year | 40/41 | €25,261 | €325,098 | +€299,837 | +1,187% |
| Trade receivables | 40 | €9,949 | €12,756 | +€2,807 | +28.2% |
| Other amounts receivable | 41 | €15,311 | €312,342 | +€297,031 | +1,940% |
| Cash at bank and in hand | 54/58 | €39,478 | €33,421 | -€6,056 | -15.3% |
| Deferred charges and accrued income | 490/1 | €8,121 | €4,035 | -€4,086 | -50.3% |
| Total equity and liabilities | 10/49 | €932,190 | €1,303,632 | +€371,442 | +39.8% |
| Equity | 10/15 | €170,729 | €256,996 | +€86,267 | +50.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €169,229 | €255,496 | +€86,267 | +51.0% |
| Distributable reserves | 133 | €169,229 | €255,496 | +€86,267 | +51.0% |
| Amounts payable | 17/49 | €761,462 | €1,046,637 | +€285,175 | +37.5% |
| Amounts payable after more than one year | 17 | €398,806 | €732,192 | +€333,386 | +83.6% |
| Financial debts | 170/4 | €398,806 | €732,192 | +€333,386 | +83.6% |
| Amounts payable within one year | 42/48 | €359,673 | €311,289 | -€48,384 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €90,856 | €100,758 | +€9,902 | +10.9% |
| Financial debts | 43 | €117,000 | €85,102 | -€31,898 | -27.3% |
| Credit institutions | 430/8 | €117,000 | €85,102 | -€31,898 | -27.3% |
| Trade debts | 44 | €103,729 | €91,252 | -€12,477 | -12.0% |
| Suppliers | 440/4 | €103,729 | €91,252 | -€12,477 | -12.0% |
| Taxes, remuneration and social security | 45 | €46,370 | €34,177 | -€12,193 | -26.3% |
| Taxes | 450/3 | €14,864 | €13,009 | -€1,855 | -12.5% |
| Remuneration and social security | 454/9 | €31,506 | €21,168 | -€10,338 | -32.8% |
| Other amounts payable | 47/48 | €1,718 | - | -€1,718 | |
| Accrued charges and deferred income | 492/3 | €2,983 | €3,156 | +€173 | +5.8% |
| Remuneration, social security and pensions | 62 | €176,085 | €198,055 | +€21,971 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,456 | €94,503 | -€36,953 | -28.1% |
| Other operating charges | 640/8 | €6,356 | €7,760 | +€1,403 | +22.1% |
| Gross operating margin | 9900 | €448,269 | €456,102 | +€7,833 | +1.7% |
| Operating profit (loss) | 9901 | €134,373 | €155,784 | +€21,412 | +15.9% |
| Financial income | 75/76B | €387 | €875 | +€489 | +126% |
| Recurring financial income | 75 | €387 | €875 | +€489 | +126% |
| Financial charges | 65/66B | €14,314 | €19,905 | +€5,590 | +39.1% |
| Recurring financial charges | 65 | €14,314 | €19,905 | +€5,590 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €120,445 | €136,755 | +€16,310 | +13.5% |
| Income taxes | 67/77 | €26,725 | €30,488 | +€3,763 | +14.1% |
| Profit (loss) for the period | 9904 | €93,721 | €106,267 | +€12,547 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,721 | €106,267 | +€12,547 | +13.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.